Examples of Foreign Subsidiary Holdco in a sentence
Furthermore, nothing contained in the Credit Documents shall require any Borrower or Guarantor to pledge as Collateral more than 65% of the total outstanding voting Equity Interests of any Foreign Subsidiary that is a CFC or any Foreign Subsidiary Holdco.
Notwithstanding anything to the contrary contained in Section 7.08(a) or any other Loan Document, (i) no Foreign Subsidiary or Foreign Subsidiary Holdco shall be required to execute and deliver a Joinder Agreement or to otherwise guarantee or support any Obligation, and (ii) no Capital Stock of a Foreign Subsidiary or Foreign Subsidiary Holdco in excess of 66% of the Capital Stock of such Foreign Subsidiary shall be required to be pledged pursuant to the provisions of the Security Agreement.
The obligations of any Subsidiary Guarantor that is a Foreign Subsidiary Holdco (including, without limitation, all obligations of such Subsidiary Guarantor hereunder in respect of any Hedging Obligations or Cash Management Obligations) shall be released effective on each Foreign Subsidiary Holdco Release Date for such Subsidiary Guarantor in accordance with the terms of the Credit Agreement.
Borrower shall promptly notify Lender of each Subsidiary acquired or formed subsequent to the Effective Date and, within 30 days of acquisition or formation, shall cause any such Subsidiary that is not a Foreign Subsidiary or a Foreign Subsidiary Holdco to execute and deliver to Lender an executed Joinder Agreement attached hereto as Exhibit B.
For the avoidance of doubt, no Foreign Subsidiary and no Foreign Subsidiary Holdco shall be liable for any Obligations or shall be required to guarantee any of the Obligations.